Gibraltar has granted approval in principle to Wire Industries, the parent company of WagerWire, to operate a prediction market in the territory, making it the second prediction market licensee after ADI Predictstreet.
Wire Industries announced on 10 June that its prediction market subsidiary, Wire Markets Ltd, had received the approval, clearing a path for the Los Angeles company to establish a regulated operator on the peninsula. Full authorisation remains subject to due diligence, assessment processes and regulatory requirements before any launch.
The approval lands roughly three months after Gibraltar issued its first prediction market licence to ADI Predictstreet in March. Predictstreet, owned by an Abu Dhabi royal family entity, is the official prediction market partner of the 2026 FIFA World Cup and has also announced tie-ups with DAZN and Fanatics Markets.
Gibraltar positions for the prediction market vertical
The WagerWire approval extends a policy direction set by Gibraltar’s Minister for Justice, Trade and Industry, Nigel Feetham, who outlined plans in April for the territory to become one of the first European jurisdictions to license prediction markets directly. The approach contrasts with several major European markets. Regulators in the Netherlands, France and Germany have moved to block prediction market operators, shutting out firms such as Polymarket. Denmark’s gambling authority has said it lacks the power to act against operators that do not specifically target Danish consumers, a gap detailed in its assessment of cross-border prediction market reach.
Feetham framed the WagerWire approval as conditional rather than final.
Gibraltar has long been recognized as a leading jurisdiction for innovative and responsibly regulated gaming businesses. We welcome applications from companies that prioritise transparency, compliance and technological innovation. WagerWire’s application is being viewed favourably at this stage, subject to the completion of the relevant due diligence, assessment processes and regulatory requirements. We look forward to continuing our engagement with the company as that process progresses.
From bet resale to event contracts
WagerWire launched in 2023 as the first secondary marketplace for online sports wagers, letting users buy and sell active sportsbook bets. The Gibraltar approval marks a shift in product direction toward prediction markets, which it will run through the Wire Markets brand. The company has said it plans to launch later this year, timed to the start of the NFL and international football seasons, opening with sports event contracts before adding deeper offerings.
CEO Zach Doctor described the approval as a step toward the company’s broader goal.
This is a transformational opportunity for WagerWire to fully realize our mission. For years, we’ve built products that challenge the status quo by introducing greater flexibility, liquidity, and control into traditional sports betting, and Wire Markets represents a natural extension of that vision.
Gibraltar as a base for global expansion
Both the operator and the regulator have presented the Gibraltar credential as a foundation for licensure elsewhere. Wire Industries said the approval positions it to support future expansion into other jurisdictions, and WagerWire has described Gibraltar as a springboard for global growth.
The choice of Gibraltar over the United States reflects the regulatory uncertainty surrounding prediction markets in the operator’s home market, where the status of sports event contracts remains contested. That uncertainty has driven activity and capital toward the category from multiple directions. Kalshi raised $300m and expanded to more than 140 countries, while Intercontinental Exchange took a strategic stake in Polymarket, signalling institutional appetite for the vertical even as regulators across jurisdictions reach different conclusions on how to treat it.
WagerWire has not yet named the specific markets it intends to offer, and Doctor said partnerships are still to be confirmed. The timing of a full Gibraltar licence, and whether further applicants follow WagerWire through the territory’s new framework, will determine how quickly Gibraltar’s prediction market push translates into a competitive cluster.
Source: Wire Industries
